Raiffeisen’s Russia problem: Could a court ruling provide relief?

Almost three years after Russia’s attack on Ukraine, Raiffeisenbank International (RBI) and its subsidiary are still active in Moscow. The commitment has always been viewed critically, but the RBI finds itself in a certain dilemma: it could only sell its Russian subsidiary with the sanction of the Kremlin. In addition, Russian countersanctions prohibit the RBI subsidiary’s profits from being transferred to Austria. The bank is therefore pursuing a strategy of continually scaling back its business in Russia – and according to a request from the European Central Bank (ECB), it must do so.